Carlsberg Group increases its ownership in Chinese joint venture

11/14/2012 14:30

Carlsberg Group has signed an agreement to acquire a further 18.58% shareholding in Chongqing Jianiang Brewery Co. Ltd. (previously Chongqing Xinghui Investment Co., Ltd.), taking its total shareholding to 49.58%. The purchase price is approximately RMB 600m.

Chongqing Jianiang Brewery Co., Ltd. was established in 2011 (for further details see Carlsberg Group company announcement from 1 August 2011). Chongqing Xinghui Investment Co., Ltd. was renamed Chongqing Jianiang Brewery Co., Ltd in December 2011.

The transaction is subject to government approvals and update of the constitutional documents of Chongqing Jianiang Brewery Co., Ltd.